Malaysian light sweet crude differentials hit fresh 2-year low


Dateline 2014-11-04, Hellenic Shipping News:

Premiums paid for Malaysia’s benchmark light sweet crudes extended their decline to a fresh two-year low Monday as fragile petroleum refining margins and competition from non-regional grades dented end-user demand, while the influx of new Kimanis crude added to concerns over recent oversupply conditions, traders said.

Malaysia’s Labuan crude was assessed at a $4.70/barrel premium to Dated Brent on Monday, its lowest level since touching a premium of $4.49/b on August 21, 2012, while the premium for Tapis crude to Dated Brent fell to $2.30/b on Monday, its lowest level since August 15, 2012, when the crude was assessed at Dated Brent plus $2.30/b.

Kikeh was last assessed at a premium of $4.40/b on Monday, its lowest point since $3.92/b on August 13, 2012.

 

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